CFPB to Release Small-Business Data Proposal in Court Settlement

The Consumer Financial Protection Bureau will release a proposal for studying discrimination in small-business lending and consult with consumer groups about data-collection requirements for lenders under a new settlement.

The agreement announced Wednesday would end litigation brought by the California Reinvestment Coalition, the National Association for Latino Community Asset Builders, and small-business owners over delayed CFPB rules required by the 2010 Dodd-Frank Act.

“For nearly a decade since Dodd-Frank became law, our members throughout California have been on the frontlines pushing for this rule to move forward, “ California Reinvestment Coalition’s Executive Director Paulina Gonzalez-Brito said in a statement.

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